Exxon Mobil shrugged off the impact of a drilling ban in the Gulf of Mexico
yesterday, announcing a 55 per cent rise in profits propelled by booming
production and higher global oil prices.

Exxon, the world’s largest listed oil company, reported profits of $7.35
billion (£4.6 billion) during the three months to September 30 — equivalent
to about $80 million a day — up from $4.73 billion during the same period a
year ago. The group’s revenues rose by 16 per cent to $95.3 billion.

The company, based in Irving, Texas, benefited from a 12 per cent rise in oil
prices compared